Scenario background:

A successful New York City marketing firm wants to expand abroad. The CEO and VP of Operations hire your consulting firm to collect data and assess market trends. You're Mercer HR. The Mercer Human Resource Consulting website shows item costs in selected cities worldwide. Each city's cost-of-living index is compared to NYC's. London costs 88.33, 11.67% less than NYC.

The Excel file contains 2018 Cost of Living data for 17 cities. The 2018 cost of living index, monthly cost of a 3-bedroom apartment, monthly transportation pass, mid-range bottle of wine, 1-lb loaf of bread, gallon of milk, and 12-oz black coffee are included. All prices are USD.

This data is used to predict cot living using Multiple Linear Regression and descriptive statistics. The Excel result shows the calculated MLR. Interpret the data).

From this, which city should you setup a second office? Please explain.

Website for the Stats:

https://www.mercer.com/our-thinking/career/cost-of-living.html?utm_source=mobilityexchange&utm_medium=internal&utm_campaign=mcol1#rankings